Clinical Chemistry Analyzers Market
Clinical Chemistry Analyzers Market (Product: Panels & Reagents and Analyzers; Technology: Semi-automatic and Fully Automatic; Modality: Centralized and Decentralized; and End User: Hospitals, Diagnostic Centers, Academic Research Institutes, and Others) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027
Press Release :
Technologically Advanced Automated Clinical Chemistry Analyzers Gaining Popularity
The use of clinical chemistry analyzers has increased at a rapid pace over the past few decades, owing to significant advancements in technology and rising requirements of the healthcare industry. Clinical chemistry primarily focuses on the analysis of internal fluids within the body and offers accurate diagnostic insights. Conventional manual laboratory tests have laid a strong foundation for modern-day clinical chemistry. However, testing methods have evolved with advancements in technology and at present, several tests can be performed in automated laboratories using advanced instruments such as chemical analyzers.
Significant developments in the design of modern-day clinical chemistry analyzers are expected to define the path of the clinical chemistry analyzers market, which is poised expected to reach a value of ~US$ 16.3 Bn by 2027. Groundbreaking technological advancements, improved production techniques, and entry of cutting-edge software are some of the factors that are projected to accelerate the growth of the clinical chemistry analyzers market during the forecast period (2019-2027). Hospitals, point of care diagnostic centers, research laboratories are the most prominent end users in the clinical chemistry analyzers market.
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Automation in Clinical Chemistry – A Growing Trend
Computer technology has played a pivotal role in transforming the clinical chemistry segment, which, at present, is adopting informatics and automation. Automation in clinical chemistry has improved throughput to enable significantly higher testing volumes and efficiency, and minimizing human error. Moreover, automated clinical chemistry analyzers have proven their efficacy in minimizing cross-contamination and offer a high degree of safety from biohazard. The demand for automated chemistry analyzers has thus witnessed substantial growth in recent years and the trend is anticipated to continue during the forecast period. Fully automatic clinical chemistry analyzers are projected to account for ~64% share of the clinical chemistry analyzers market. This technology segment is expected to reach a value of ~US$ 10.4 Bn by 2027. The adoption of automated chemistry analyzers is expected to grow, as stakeholders in the clinical chemistry analyzers market value chain are leveraging favorable reimbursement policies and technologies to develop flexible instruments that offer superior performance than previous product types.
Future of Clinical Chemistry Analyzers Market Hinges on R&D Activities
The clinical chemistry analyzers market has continually witnessed innovations predominantly driven by the evolution of technology. Ongoing R&D activities, coupled with integration of advanced software technologies in clinical laboratories are expected to shape the future of clinical chemistry analyzers. Furthermore, stakeholders are likely to develop new products that are in-sync with the requirements of laboratories. Participants operating in the clinical chemistry analyzers market are engaged in the development of customized analyzers for small-scale laboratories. Additionally, manufacturers in the clinical chemistry analyzers market are increasingly developing downsized clinical chemistry analyzers that open the floodgates for improved testing capabilities. The next generation of clinical chemistry analyzers will further improve the workflow efficiencies in hospitals, point-of-care diagnostic centers, and research laboratories. Significant efforts are in store to integrate molecular diagnostics instruments and mass spectrometry with clinical chemistry systems.
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Clinical Chemistry Analyzers Market Players Engage in Product Development
As the clinical chemistry analyzers market enters the automation era, manufacturers in the market are expected to focus on expanding their product portfolio by developing cutting-edge products according to current lab requirements. For instance, Trivitron Healthcare, an Indian health-tech company, launched a fully automated chemistry analyzer – ‘Nanolab 200’ in July 2019. The newly launched product is an automated benchtop chemistry analyzer that has a throughput of around 200 tests per hour. Integrated with cutting-edge liquid level detection technology, the newly launched product is expected to improve efficiency levels across clinical laboratories.
Companies are also focusing on opportunities in mid-sized laboratories wherein the integration of automated systems is a major challenge. Several manufacturers are launching compact analyzers with improved turn-around-time (TAT). For instance, in August 2019, the ERBA Group launched a new range of clinical chemistry analyzers, including XL 200 and XL 640 that are easier to operate and integrate with the advanced software version.
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The clinical chemistry analyzers market is expected to grow at a CAGR of ~4% during the forecast period. Automation will continue to fuel major developments in the clinical chemistry analyzer market. Companies operating in the current landscape should identify evolving requirements of clinical laboratories and develop new products with improved throughput. Research and development activities will continue to play a key role in the development of future generations of clinical laboratory instruments. Due to significant technological developments in North America and Europe, these regions will continue to remain the most prominent markets for clinical chemistry analyzers during the forecast period.
Clinical Chemistry Analyzers Market: Overview
- According to Transparency Market Research’s latest market report on the clinical chemistry analyzers market for the historical period of 2017–2018 and forecast period of 2019–2027, rise in prevalence of chronic diseases and adoption of point-of-care testing in diagnosis of various diseases are anticipated to drive the global clinical chemistry analyzers market
- According to the report, the global clinical chemistry analyzers market was valued at ~US$ 11.3 Bn in 2018. The clinical chemistry analyzers market is projected to expand at a CAGR of ~4% from 2019 to 2027.
Increase in Demand for Portable Devices and Point-of-Care Testing to Accelerate Clinical Chemistry Analyzers Market Growth
- Point-of care testing is driving the clinical chemistry analyzers market. The point-of-care testing is driven by technological advancements as well as patient reference. Manufacturers are making continuous progress in terms of research & development to create products with newer, advanced technologies. For instance, sensor technologies enable rapid analysis of blood samples for several critical care assays, including chemistries, electrolytes, blood gases, and hematology.
- Technological innovations, such as next generation microfluidic devices are capable of efficient separation of CTCs from whole blood. These devices require low consumption of reagents and samples, and provide fast turnaround time for analysis. Technological advancements in point-of-care testing devices have contributed to the growth of clinical chemistry analyzers.
- Increase in burden of chronic diseases across the globe, especially in developed countries, has resulted in the adoption of portable clinical chemistry analyzers. Hence, rise in demand for portable or benchtop clinical chemistry analyzers is expected to result in reduced health care costs and lead to enhanced rate of diagnosis and treatment, which would subsequently propel the global clinical chemistry analyzers market.
Large Target Patient Pool
- Rise in incidence of lifestyle diseases such as cardiac diseases and diabetes, increase in incidence of infectious diseases in developing countries, growth in usage of home-based point-of-care devices, and technological advancements with regard to development of advanced, fast, and easy-to-use devices are fueling the demand for clinical chemistry analyzers
- Consistent rise in geriatric population leads to increased risk of acquiring several chronic disorders, thereby creating a need and demand for effective diagnostic and therapeutic methodologies. This, in turn, influences the growth of the clinical chemistry analyzers market.
- In May 2019, Beckman Coulter introduced DxA 5000, the total laboratory automation solution, which has received European CE Mark and China Food and Drug Administration approval. The DxA 5000 utilizes intelligent routing to bring automated patient-centric workflow to the laboratory. By comprehending the tests requested and availability of sample volume, the DxA 5000 constantly calculates the most prompt route for every patient sample.
- Introduction of new products and advanced technologies are likely to fuel the growth of the global clinical chemistry analyzers market
High Cost of Automated Instruments to Hamper Clinical Chemistry Analyzers Market
- Advancements in technology in clinical chemistry analyzers carry a heavy price tag. The cost of analyzers is increasing with rise in automation and integration of clinical analyzers. Laboratories cannot afford high cost instruments. Therefore, instruments, which are cost-effective and easy-to-use, are needed.
- High instrument cost can increase testing expenditure, which can restrain the global clinical chemistry analyzers market during the forecast period
Clinical Chemistry Analyzers Market: Competition Landscape
- This report profiles major players in the global clinical chemistry analyzers market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments
- The clinical chemistry analyzers market is moderately fragmented, with the presence of a few large-scale players present in international market and numerous small-scale players in regional markets. Top four to five players hold majority share of the global clinical chemistry analyzers market.
- Prominent players operating in the global clinical chemistry analyzers market include
- Ortho Clinical Diagnostics
- F. Hoffmann-La Roche Ltd.
- Danaher Corporation
- Randox Laboratories Ltd
- Siemens Healthineers
- Abbott Laboratories
- Thermo Fisher Scientific, Inc.
- Mindray Medical International Limited
Clinical Chemistry Analyzers Market: Key Developments
Key players in the global clinical chemistry analyzers market are engaged in the development of new products and approvals, key mergers & acquisitions, and collaborations. Major developments by key players operating in clinical chemistry analyzers are likely to fuel the expansion of the global clinical chemistry analyzers market. Some of the growth strategies adopted by the players in the global clinical chemistry analyzers market are as follows:
- In October 2017, Siemens Healthineers decided to expand its capacity in Shanghai. The new laboratory diagnostic plant is the firm’s first in-vitro diagnostic reagent plant in Asia Pacific, which is engaged in the production of clinical chemistry and immunoassay reagents.
- In September 2019, Randox Laboratories Ltd. launched a new online store with exclusive discounts. The website offers customers reagents, dedicated RX series kits, and consumables online.
- In November 2017, Ortho Clinical Diagnostics collaborated with EKF Diagnostics. The agreement allowed Ortho customers to access EKF’s Stanbio Chemistry LiquiColor assay for beta-hydroxybutyrate (BHB).
The report on the global clinical chemistry analyzers market discusses individual strategies, followed by company profiles of manufacturers of clinical chemistry analyzers. The ‘Competition Landscape’ section has been included in the global clinical chemistry analyzers market report to provide readers with a dashboard view and a company market share analysis of key players operating in the global clinical chemistry analyzers market.
Clinical Chemistry Analyzers Market – Scope of the Report
TMR’s report on the global clinical chemistry analyzers market studies past as well as current growth trends and opportunities to gain valuable insights of the same indicators for the said market during the forecast period from 2019 to 2027. The report provides the overall market revenue of the global clinical chemistry analyzers market for the period of 2017–2027, with 2018 as the base year and 2027 as the forecast year. The report also provides the compound annual growth rate (CAGR) for the global clinical chemistry analyzers market during the forecast period.
The report has been prepared after an extensive primary and secondary research. Primary research involves bulk of research efforts wherein, analysts carry out interviews with industry leaders and opinion makers. Extensive secondary research involves referring to key players’ product literature, annual reports, press releases, and relevant documents to understand the global clinical chemistry analyzers market.
Secondary research also includes Internet sources, statistical data from government agencies, websites, and trade associations. Analysts have employed a combination of top-down and bottom-up approaches to study various phenomenon in the global clinical chemistry analyzers market.
The report includes an elaborate executive summary, along with a snapshot of the growth behavior of various segments included in the scope of the study. Furthermore, the report sheds light on changing competitive dynamics in the global clinical chemistry analyzers market. These indices serve as valuable tools for existing market players as well as for entities interested in entering the global clinical chemistry analyzers market.
The report delves into the competition landscape of the global clinical chemistry analyzers market. Key players operating in the global clinical chemistry analyzers market have been identified, and each one of them has been profiled for their distinguishing business attributes. Company overview, financial standings, recent developments, and SWOTs are some of the attributes of players in the global clinical chemistry analyzers market that have been profiled in this report.
Key Questions Answered in Clinical Chemistry Analyzers Market Report
- What is the scope of growth of companies in the clinical chemistry analyzers market?
- What will be the Y-o-Y growth of the clinical chemistry analyzers market between 2019 and 2027?
- What is the influence of changing trends in technologies on the global clinical chemistry analyzers market?
- Will North America continue to remain the most profitable regional market for clinical chemistry analyzers providers?
- Which factors will impede the growth of the global clinical chemistry analyzers market during the forecast period?
- Which are the leading companies in the global clinical chemistry analyzers market?
A unique research methodology has been utilized by TMR to conduct a comprehensive research on the growth of the global clinical chemistry analyzers market and arrive at conclusions on the future growth prospects of the market. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the drawn conclusions.
Secondary sources referred to by analysts during the production of the global clinical chemistry analyzers market report include statistics from company annual reports, SEC filings, company websites, World Bank database, investor presentations, regulatory databases, government publications, and industry white papers. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, and market intelligence managers, who have contributed to the production of TMR’s study on the clinical chemistry analyzers market as primary sources.
These primary and secondary sources have provided exclusive information during interviews, which serves as a validation from the clinical chemistry analyzers market leaders. Access to an extensive internal repository and external proprietary databases allows this report to address specific details and questions about the global clinical chemistry analyzers market with accuracy. The study also uses the top-down approach to assess the numbers for each segment and the bottom-up approach to counter-validate them. This has helped in reaching TMR’s estimates on future prospects of the global clinical chemistry analyzers market more reliably and accurately.
Clinical Chemistry Analyzers Market – Segmentation
Panels & Reagents
Academic Research Institutes
Middle East & Africa